Brief report on US-China talks. The topics of forced technology transfer, intellectual property protection and customs duties were discussed during meetings held in Beijing over the past three days between US and Chinese officials. They agreed on the need for an agreement between the two countries to ensure "fairness, reciprocity and balance in trade relations". The Chinese are also reported to have committed to buying a number of American products and services, including agricultural products, energy and manufactured goods, according to the statement issued by the Office of American Trade Representatives (USTR). The Chinese minister also expressed his optimism following these meetings by stating that the discussions had made it possible to "lay the foundations" for an agreement. However, Trump recalled that if no agreement was reached before the end of the truce period (deadline March 1), it would raise customs duties by 10% on $200 billion worth of Chinese products...

Nancy said no, Trump said bye-bye. Yesterday, Donald Trump suddenly left the meeting with Democratic leaders, including Nancy Pelosi (head of representatives) and Chuck Schumer (Democrat leader in the Senate). Unable to convince opponents of the construction of the wall on the Mexican border, the president stood up and left. Discussions therefore remain at a standstill and the shutdown continues.

A new "imminent" summit between North Korea and the United States. North Korean leader Kim Jong-Un, who has just returned from his trip to China, is ready to hold a second summit with Donald Trump and expects "results that will be welcomed by the international community". The nuclear issue, a real bone of contention between the two men, will be put back on the table. It should be recalled that last week Kim Jong-Un stated in his speech that North Korea was no longer producing nuclear weapons, which directly caused Donald Trump to react, but that it was ready to change its tone if the United States maintained its sanctions...

In other news. Yesterday's minutes of the last Fed meeting confirmed that the US Central Bank will pause in its monetary tightening cycle. The unemployment rate in the euro zone is falling (7.9% against 8.1%). China reports a deceleration in price increases (CPI 1.9% against 2.2% previously and PPI 0.9% against 2.7%), another witness to the slowdown in the Chinese economy. The pressure remains at its peak a few days before the British Parliament vote.